This column is part of the Heard on the Street Stock Picking Contest. You’re invited toAs the world moves on from the pandemic, investors may realize they aren’t dog people after all.
The surge in impulse pet adoptions fueled by Covid-19 makes even extravagant Christmas seasons look morally unimpeachable. Almost 13 million households in the U.S. got an animal companion between March and December of 2020, the American Pet Products Association says. Spending on veterinary practices has shot up this year, according to analytics firm VetSuccess.
Sitting at the intersection between markets’ obsession with growth stories and the vet boom is Seattle-based pet insurer Trupanion . Its shares have gained 250% in two years and trade at 13 times the firm’s tangible book value—insurers usually hover around one—even though it has rarely turned a profit sinceOnly 1% of pets in the U.S. have medical insurance, compared with 30% in Sweden, 25% in the U.K. and 5% in France.
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Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »